Aibel has roots dating back more than a century. Companies such as Elektrisk Bureau, Haugesund Mekaniske Verksted (HMV), Umoe and ABB were all forerunners of Aibel as it is today. 

Aibel has played an important role in the development of the oil industry and is now an independent and forward-looking company. 

Our history in brief

Aibel is a major player in the market, active on half of the installations on the Norwegian continental shelf. We also execute important assignments in four land-based plants.

Herkules Capital sells its shares in Aibel. The Swedish company Ratos and Sjätte AP-fonden now represent 50 per cent of the total ownership interests in Aibel. Ferd owns and controls the remaining 50 per cent. 

Aibel AS invests in Hammerfest Maritime Service AS, with the Langset Group as the majority owner.

Aibel Group Limited receives a capital injection of NOK 600 million from its owners. Aibel Group Limited is subsequently demerged to two separate legal and operating units; Aibel AS and Aibel Group Limited.

August: Aibel Group Limited is founded as an independent company.
June: Aibel is acquired by Norwegian investors through Ferd and Herkules Capital.

ABB Offshore Systems is sold. The new holding company, Vetco International Limited, is founded. ABB Offshore Systems is one of two subsidiaries and its name is changed to Vetco Aibel AS. The second subsidiary is Vetco Gray.

Change of name to ABB Offshore Systems.

ABB purchases oil and gas installations from Umoe ASA. Umoe has a long history of providing services to the Norwegian oil market and the company is particularly involved in modifications and maintenance. This also implies that ABB takes over the offshore yard in Haugesund.

ABB Offshore Technology is formed.

ABB becomes the majority owner of Elektrisk Bureau (EB). The oil and gas sector is gradually built up over the next few years.

Haugesund Mekaniske Verksted (HMV) is founded.

Elektrisk Bureau (EB) is founded.